Wednesday, December 04, 2024

Remember that Bitcoin crash of a few days ago?

Sudden Panic Sparks $200B Bitcoin and Crypto Price Crash

Comments

The URL from then...
www.forbes.com

There was a drop from near $100k to around $90.

On that thread I said, "It's just Bitcoin being Bitcoin."

And I provided a link to another example of such a move.

Well, guess what, this evening Bitcoin is back to (actually over) $100,000.

But, taking a step back from the day to day prices, I have to ask, why Bitcoin?

What is propping up that valuation?

My current opinion is that Bitcoin's price has risen due to the inherent anti-establishment aspect of Bitcoin.

imo, Bitcoin is all about decentralized finance. And that is appealing of late.


#1 | Posted by LampLighter at 2024-12-04 10:14 PM

What is propping up that valuation?

Same thing as $150 bbl oil.....hype.

#2 | Posted by Nixon at 2024-12-05 08:31 AM

Put all your money in tulips.

#3 | Posted by LegallyYourDead at 2024-12-05 12:44 PM

.... and look at it now, 5 Dec - over 100k.... trump effect!

#4 | Posted by MSgt at 2024-12-05 01:37 PM

Of course Bitcoin is all speculative with absolutely nothing backing it, so IMO if one bought it much cheaper in the past, maybe a good time to sell and take profits.

#5 | Posted by MSgt at 2024-12-05 01:38 PM

Trump effect=15% unemployment and 1.2 million dead Americans

#6 | Posted by reinheitsgebot at 2024-12-05 01:41 PM

Those are piker's numbers.

Just give Trump 4 years.

We'll really see some death and destruction.

#7 | Posted by ClownShack at 2024-12-05 01:42 PM

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